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Technical Analysis Fallacy

  • #59,781
  • Sep 26, 2019 7:32pm Sep 26, 2019 7:32pm
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  • #59,782
  • Sep 26, 2019 9:04pm Sep 26, 2019 9:04pm
Quoting ukmanthailan
I made a real mess of things today. Flipped my cable short because I misread the price action (not quite sure how looking at the chart now but it's never the same when you're following the action live) then went in too big long. I was very lucky that I closed my long fairly quickly and then managed to ride the move down to about 2374 and end up with a profit on the day, but it was yet another warning that I still have a scorpion on my back at times. I think it has something to do with my mood: I've been really irritable the last couple of days and...
Hope you are well!
  • #59,783
  • Sep 26, 2019 9:38pm Sep 26, 2019 9:38pm
Thank you FTI
  • #59,784
  • Sep 27, 2019 10:32am Sep 27, 2019 10:32am
Pakistan

https://www.dawnnews.tv/news/1111383...NCvu-rZEtg18fk
don't predict direction, but dance with flow of water
  • #59,785
  • Sep 27, 2019 12:56pm Sep 27, 2019 12:56pm
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  • #59,786
  • Sep 27, 2019 1:29pm Sep 27, 2019 1:29pm
Quoting priceaction1
Pakistan https://www.dawnnews.tv/news/1111383...NCvu-rZEtg18fk
wow, GOD is great, thanks for sharing priceaction1( SJ ).
  • #59,787
  • Sep 28, 2019 8:41am Sep 28, 2019 8:41am
Hi everyone! This is my first on this forum, so I would like to talk about some ideas, concerned with the very first topic in this thread.
Quoting fti
What many fail to realise, is that all these studies, basically are statistical tables plotted in graphic form to present a "picture" to assist traders in their decision process. The maxim being, that a picture tells a thousand words. "It is not theirs (the charts) to reason why, But to signal Sell or Buy, For the traders to do or die, Hoping that the signal does not lie, I would, from my many years of studies, go so far as to say, that they all work, some more than others but they all do serve a purpose. (to give traders, the "guts" to do or die)...
There is no doubt that technical analysis systems are tools and that they can't be used without freshed-up statistics. But at the same time I think there should be some kind of expertise of what are you using even before you start to statistically test those tools. It's clear that "mathematical" indicators (MACD, MA, Bollinger and so on) are frozen formulas. Being convenient to be explored by the user they are pretty much torn out of the market processes. I think that trading systems based on those are pretty much reactive and that leads us to some kind of knight blindness - we can see only what is in front of us, but never the next step.

So that's why I started to look for the solution among graphical methods. And the problem with them - is that there is a lot of things that are not formalized exactly. People try to shapen their systems, but in the end mostly it's hard to confirm that some choise is better then another...

What I'm trying to say, is that the first questions the trader should ask himself is "what kind of tools to use?", then "what they can do?" and then "Is it possible to make them do what I expect and how to do this?"
  • #59,788
  • Sep 28, 2019 12:53pm Sep 28, 2019 12:53pm
Quoting fti
{quote} A hero passes. I saw this on the BBC and thought you should see it: Shuping Wang: Whistleblower who exposed HIV scandal in China dies - https://www.bbc.co.uk/news/world-asia-49834904
yes, master. most would comfortably close the eyes and pretend the world is fine. salute to her.
  • #59,789
  • Sep 29, 2019 12:59am Sep 29, 2019 12:59am
Quoting GEfx
{quote} Hope you are well!
I'm okay now thank you. I was disappointed with my lack of discipline, very disappointed. I let outside distractions invade my 'trading head-space'. I should have just stopped trading or shut out the distractions, I know myself and I know the signs so I should have avoided the situation. The weekend came at a good time for me this week.
  • #59,790
  • Sep 29, 2019 8:00am Sep 29, 2019 8:00am
Quoting K40
https://youtu.be/v4xZUr0BEfE
Hahaha song woke me up.
Hahahahahaha

Regards
  • #59,791
  • Sep 29, 2019 8:07am Sep 29, 2019 8:07am
Quoting Jj1Joker
Hi everyone! This is my first on this forum, so I would like to talk about some ideas, concerned with the very first topic in this thread. {quote} There is no doubt that technical analysis systems are tools and that they can't be used without freshed-up statistics. But at the same time I think there should be some kind of expertise of what are you using even before you start to statistically test those tools. It's clear that "mathematical" indicators (MACD, MA, Bollinger and so on) are frozen formulas. Being convenient to be explored by the user...
Interesting your thoughts.

But for me the 1st question is what is your goals/objective.
Then you sharpen your tools towards that objective.
Otherwise any darn tool will work sometimes.
And any roads gets you there. If you going everywhere.

What would you like for dinner.

Anything.

Ok will the shit i am eating do?
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Regards
  • #59,792
  • Sep 29, 2019 12:43pm Sep 29, 2019 12:43pm
FTI, something has happened. it's like i have tapped into some vast source of inner motivation, positivity and beliefs.

I am super motivated and i have faith, belief in me that i can feed self and do way more by doing trading the way i have read in ur thread. After one year of reading doing demo re-reading doing more demos, things are getting better.

tho i know and i do accept it that i just dont know anything more than double bar analysis and 2-3 patterns and how to know trend.

Having this below basic knowledge clubbed with mindset have started giving returns in demo.

My target is to understand below to complete my basics of Analysis:
1. All possible classical patterns for which i hav sufficient material.
2. How pattern has formed on higher TF than just knowing what pattern is formed.
3. Continuous analysis and mutations of patterns
4. Dancing of different ladies long, short,fat,heavy etc

Thanks you FTI and all fellow TAFians

regards
Ant

To know yourself is must before even thinking about battel.
  • #59,793
  • Sep 29, 2019 5:55pm Sep 29, 2019 5:55pm
Quoting antmindset
FTI, something has happened. it's like i have tapped into some vast source of inner motivation, positivity and beliefs. I am super motivated and i have faith, belief in me that i can feed self and do way more by doing trading the way i have read in ur thread. After one year of reading doing demo re-reading doing more demos, things are getting better. tho i know and i do accept it that i just dont know anything more than double bar analysis and 2-3 patterns and how to know trend. Having this below basic knowledge clubbed with mindset have started...

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  • #59,794
  • Edited 6:29pm Sep 29, 2019 6:12pm | Edited 6:29pm
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  • #59,795
  • Sep 29, 2019 8:40pm Sep 29, 2019 8:40pm
Hi FTI.
Wanted to drop in again and let you know. I am on my way to trading for a prop firm due to your teachings. The head trader seems to trade the way you teach and it finally seems to have clicked for me. I stirred the pot by posting a link to a site that he could be seen and was chastised by a few in the thread. You came along and forgave me. Want to thank you for that and this thread. I think I would have quit trying if not for you and this thread. I came to realize that I needed accountability to someone other than myself. I found it at the prop firm. I was and have been profitable since day one. I saw the way the head trader trades and it all seemed to click. The scout, spiral in and out, the rescue. all of it. My dad turned 81 this past friday and got to present my youngest son's college ring to him. That was a huge day for him. For the first time in years, I feel like I am going to let him see me and my boys be successful before he passes. That has been my goal since I lost a very good biz in 99. I have you to thank for that. Bless you sir. You have done a great thing with this thread. Will update with my progress.
  • #59,796
  • Sep 30, 2019 12:31am Sep 30, 2019 12:31am
Quoting tubguy
Hi FTI. Wanted to drop in again and let you know. I am on my way to trading for a prop firm due to your teachings. The head trader seems to trade the way you teach and it finally seems to have clicked for me. I stirred the pot by posting a link to a site that he could be seen and was chastised by a few in the thread. You came along and forgave me. Want to thank you for that and this thread. I think I would have quit trying if not for you and this thread. I came to realize that I needed accountability to someone other than myself. I found it at the...


God speed.
Yeeha.

Regards
  • #59,797
  • Sep 30, 2019 2:15am Sep 30, 2019 2:15am
Reply to a message, i want to post here for everyone. Nothing much, just my thought process.

---
Thanks Brother. (name omitted)

I can comment on your thread, but trust me it wont serve any purpose. I know you want other to come to your thread and post something, these things gives us self appreciation when other respect or at least acknowledge our work.

I was like that, wanted to show other that i have found TAF thread which can help me and my friend becoming financially free. But even our real friends or blood relatives wont give a shit unless we are really making hard cash.

After so many rejections when i am seeking other's appreciation, i have figured out that why Professional traders do not show their trade or book, they dont have to prove anyone anything. Similarly they dont expect anything from anyone. They are self contend, self motivated, self aware and in CONTROL.

I want to be like that, hence practicing the mindset. I ask all types of stupidity here because that is only way i can learn.

Please forgive me if i am not commenting on ur thread, I am not doing this is because it wont serve any purpose. We have everything here on TAF by FTI.

Also i dont consider myself pro enough to open a thread, this take time and energy, which i can use in other productive purposes.

Even if i start earning/making monies by FTI teaching (lets call it FMO for now on), i wont discuss it with anyone other than on TAF, that also occasionally.

I would like to be anonymous.

May be if i learn the skill Master has given in this thread, i will pass on. but there is very big IF. I am open to all possibilities now.

Your friend,

Regards,
Ant
  • #59,798
  • Sep 30, 2019 9:34am Sep 30, 2019 9:34am
scout was green, caught first leg of impulse then went for mild attack after retracement. attack was in + ( 2-3 pips). Then market turned and first attack was red. i waited, then scout was red. i thought of rescue , looking for dust to settle, but maket rolled over.

here comes the dilemma, market form saying turn, but turning make me pig. what to do. i waited. market rolled over and everything was deep red.

finally planned rescue as i saw dust is settled and few pip move is coming so deployed rescue, but after 1 candle again rescue is also red. dang!

Now PA is in S/R zone, time to some rescue. i did and recovered 80% loss.

now the question i have to all TAFians

When form say turn , but turning feel like being pig, and attack is in red to. How to decide.....
  • #59,799
  • Sep 30, 2019 9:47am Sep 30, 2019 9:47am
Wait for the answer to come to you? (don't pay me much attention either ...)
Newbie trader
  • #59,800
  • Sep 30, 2019 10:50am Sep 30, 2019 10:50am
Quoting fex
Wait for the answer to come to you? (don't pay me much attention either ...)
Brother Fex, waiting patiently...

and it is not about giving attention, but about seeking attention.

This is my learning, i may be absolutely wrong also. When we trade we has to give attention to market that is paramount. Continue attention.

But when we build habit of seeking attention, this also reflects in trading. When we have a position, we want market to come to us we seek attention from market.

This is just my inference, if seeking attention is not good for trading, why have such habit or mindset in first place.

I wish FTI show us light, or whip me. either way i learn.

regards
ant
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